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Joined Nov 2007
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Status: Guitarist, Surfboard maker...trader
|160 Posts
I am currently using MT4 for my charts but placing my orders with Forex.com. Is there a broker that people like best? This may be a very general question, but I do not understand much about this stuff yet.
I am currently using MT4 for my charts but placing my orders with Forex.com. Is there a broker that people like best? This may be a very general question, but I do not understand much about this stuff yet.
Ignored
FXCM will be adopting MT4 in the first quarter of '08, and FXDD currently offers 2 pip spreads on the USDEUR and MT4 platform. PM me for more info.
I am currently using MT4 for my charts but placing my orders with Forex.com. Is there a broker that people like best? This may be a very general question, but I do not understand much about this stuff yet.
Ignored
I was with Forex.com at one stage and now moved on to better broker. If you are new to this whole thing then I would recommend not to bother too much with trying to get everything right at the same time.
What I am trying to say that try to learn how to make money from the market and then look for better broker and charts to squeeze a bit more.
When looking for broker think about:
1. Spreads
2. Charting they provide.
3. Pairs offered for trading
4. Re-quotes if any.
Once you shortlisted the brokers from above then do finer analysis by:
1. Leverage
2. Account in multiple currencies.
3. Physical Location of broker
Once you have come down to 2 or 3 broker then hit the forums to look for what existing customers are saying about their service.
I was with Forex.com at one stage and now moved on to better broker. If you are new to this whole thing then I would recommend not to bother too much with trying to get everything right at the same time.
What I am trying to say that try to learn how to make money from the market and then look for better broker and charts to squeeze a bit more.
When looking for broker think about:
1. Spreads
2. Charting they provide.
3. Pairs offered for trading
4. Re-quotes if any.
Once you shortlisted the brokers from above then do finer analysis by:
1. Leverage
2. Account in multiple currencies.
3. Physical Location of broker
Once you have come down to 2 or 3 broker then hit the forums to look for what existing customers are saying about their service.
Hope this helps
Ignored
Some decent suggestions, but I think a good broker is essential to success in forex trading; it's not just a matter of "squeezing a bit more" in my opinion. I almost lost $25,000 having my money at a bucketshop broker (Tradex), and was very fortunate to get my money out just before they went under.
I'd super strongly recommend you stay away from any bucketshop broker, but if you want to use MT4 as a trading platform, unfortunately that's what you're going to get. FYI if you don't know, bucketshops trade against your positions, are often crooked or at least unethical, and are a dying breed in my opinion. You want an "ECN" (electronic communications network) broker. I actually do use MT4 for charts and custom indicators, but use Currenex as a trading platform (which is great).
As for what broker, I suggest you Google "forex broker reviews" and you'll get the right websites. I'd post the link here, but I'll probably get a posting infraction.
Some decent suggestions, but I think a good broker is essential to success in forex trading; it's not just a matter of "squeezing a bit more" in my opinion. I almost lost $25,000 having my money at a bucketshop broker (Tradex), and was very fortunate to get my money out just before they went under.
I'd super strongly recommend you stay away from any bucketshop broker, but if you want to use MT4 as a trading platform, unfortunately that's what you're going to get. FYI if you don't know, bucketshops trade against your positions, are often crooked or at least unethical, and are a dying breed in my opinion. You want an "ECN" (electronic communications network) broker. I actually do use MT4 for charts and custom indicators, but use Currenex as a trading platform (which is great).
As for what broker, I suggest you Google "forex broker reviews" and you'll get the right websites. I'd post the link here, but I'll probably get a posting infraction.
Best wishes!
Ignored
Hi TC,
I agree with you. A lot of people have lost money because of shady brokers. It is very important to be aware of such brokers.
Forex.com (Gain Capital) is probably not the best one out there but I don't think they will run away with your money.
I too am searching for BIG BROKER (one not likely to go under) that people have had good success with - not alot of slippage, etc.. THAT HAS A PIP BY PIP TRAILING STOP AFTER THE INITIAL MOVE OF THE STOP!
ANYONE help out with this? My MT4 broker trailing stop doesn't hold if my internet goes down!! This is a problem too.
IF YOU KNOW OF onE, I would greatly appreciate a reply!
I am currently using MT4 for my charts but placing my orders with Forex.com. Is there a broker that people like best? This may be a very general question, but I do not understand much about this stuff yet.
Ignored
If you are looking for MT4, then you could possibly hold out for a month or two more for FXCM's release of the platform.
I too am searching for BIG BROKER (one not likely to go under) that people have had good success with - not alot of slippage, etc.. THAT HAS A PIP BY PIP TRAILING STOP AFTER THE INITIAL MOVE OF THE STOP!
ANYONE help out with this? My MT4 broker trailing stop doesn't hold if my internet goes down!! This is a problem too.
IF YOU KNOW OF onE, I would greatly appreciate a reply!
HAPPIEST AND PIP-FILLED NEW YEAR to you all!
Ignored
i try severals brokers
the best are IB,HOTSPOTFX and OANDA(graphics)
As I've said before (I believe on FF), FXCM promised me to have MT4 within 90 days in... January of 07. A higher up also promised it to me by Nov, 4th. I'm not saying they'll never get it, but I wouldn't hold my breath. Besides, they are probably taking so long because they can't figure out how to make it screw the trader as much as their current platform.
That being said, there are some decent MT4 brokers out there if that is what you are looking for. However it doesn't matter who the broker is if they don't fill your specific needs as a trader.
The best advice I could give is to make a list of things you want in a broker and what would be important to you as a trader.
Charts built in, Tight spreads or instant execution, commission?, Execution, currency list, platform software, reputation, customer service, stability, US or Foreign... go through and rate everything you need to have in a broker from either something you want but not a deal breaker, to must haves. Then start your search.
There is no such thing as the best broker. Different traders will like different brokers for their style of trading.
The basis of a democratic state is liberty. ~ Aristotle
As I've said before (I believe on FF), FXCM promised me to have MT4 within 90 days in... January of 07. A higher up also promised it to me by Nov, 4th. I'm not saying they'll never get it, but I wouldn't hold my breath. Besides, they are probably taking so long because they can't figure out how to make it screw the trader as much as their current platform.
Hello, can someone recomend me a good MT4 broker to start with 10K please?
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The brokerage section of this forum is all yours... read the posts on all the brokers and find one. Do your own research and choose one that has the mt4 platform if you decide that this charting package is for you.
I like MT4 platform very much, but I do not like FXCM at all!
I am thinking to invest parts in different brokers to test for several months.
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It doesn't work that way. Do your own research and jump into one broker. If your satisfied, then stay. If not, withdraw your money and pick another broker. You cannot choose a couple to start out with... you can only trade one at a time. I STRONGLY suggest you take a few forex courses or two before you start trading the forex.
I like MT4 platform very much, but I do not like FXCM at all!
I am thinking to invest parts in different brokers to test for several months.
Ignored
I have read your post saying that you don't like FXCM. Now I have just had an account at FXCM, and I find it comfortable when trading with FXCM. Certainly, it's sure that I'm not here to support for FXCM, it's ridiculous, I only want to ask the reason why you don't like FXCM, so that if it's a concrete, relevant and useful reason, maybe I will get out of FXCM. Hope to get your response soon!
